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This paper reviews the many areas in which economists play an important role in policy-making, including the … quantification of objectives set by political processes, formulation of macroeconomic policy where economists have a dominating role … economics is not a sufficiently precise science to ensure that there is wide agreement among economists on all aspects of …
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In Great Britain the seven years following WWI were marked by rigorous austerity policies. From 1918 to 1925 the main objectives were budget cuts and monetary deflation. Certainly, being the central department for financial policies, the British Treasury had decisive authority in setting such...
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